logo
Share SHARE
FONT-SIZE Plus   Neg

Cimarex Energy Prices $750 Mln Of Senior Notes

Cimarex Energy Co. (XEC) said Thursday that it has priced an offering of $750 million aggregate principal amount of senior notes due 2022, which will carry an interest rate of 5.875%.

This was an increase from the company's earlier plan to offer $650 million aggregate principal amount of senior unsecured notes due 2022

The notes were sold to the public at par.

Cimarex plans to use a portion of the net proceeds from the offering to purchase any and all of the outstanding $350 million aggregate principal amount of its 7.125% Senior Notes due 2017, pursuant to a separately announced tender offer and to redeem any of such outstanding notes not acquired in the tender offer.

The company plans to use the remaining net proceeds for general corporate purposes, including repayment of amounts outstanding under its revolving credit facility.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French aircraft maker Dassault Aviation SA said Wednesday that following repeated delays, it has terminated a contract with French defense company Safran for its Silvercrest engine that was intended to power Dassault's Falcon 5X business jet. Walt Disney Co. has agreed to buy certain assets of Rupert Murdoch's Twenty-First Century Fox, Inc. for about $52.4 billion in stock, the two companies said Thursday. Immediately prior to the acquisition by Disney, 21st Century Fox will separate the Fox Broadcasting network, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off. Crypto Co., engaged in the digital currencies and blockchain sector, announced its plans to execute a 10-for-1 stock split, citing the significant growth in the value and demand for its shares amid the ongoing digital currency market boost. CEO Mike Poutre said, ""We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock."
comments powered by Disqus
RELATED NEWS
Trade XEC now with 
Follow RTT